Philippine remittances ease in February but remain steady in early 2026

February inflows dip to $2.79B (₱159.2B) after holiday surge, while US stays top source and Jan–Feb totals rise 3.1% year-on-year

Cash remittances to the Philippines eased in February 2026 as inflows naturally slowed after the holiday season.

Data from the Bangko Sentral ng Pilipinas (BSP) showed remittances reached $2.79 billion (₱159.2 billion), down 7.61% from $3.02 billion (₱172.3 billion) in January. Despite the monthly decline, inflows were still 2.6% higher than the $2.72 billion (₱155.3 billion) recorded in February 2025, suggesting continued underlying stability in overseas Filipino worker (OFW) transfers.

Analysts attributed the movement largely to post-holiday normalization, as remittance activity typically peaks in December and January due to higher household spending during Christmas and New Year. As these seasonal pressures ease, inflows tend to settle in February.

The BSP noted that the latest figures remain consistent with historical patterns rather than indicating a structural slowdown in remittance flows.

Early 2026 remittances stay in growth territory

Despite the softer month-on-month performance, remittance inflows remained in positive territory in the January–February 2026 period.

The United States remained the dominant source of Philippine remittances during the period, reinforcing its position as the largest contributor to overseas inflows. It was followed by Singapore and Saudi Arabia, highlighting continued reliance on key labor markets across North America, the Middle East, and Asia.

Alongside these sources, other major corridors also contributed to sustained inflows, supporting overall stability in remittance flows.

Total cash remittances reached $5.81 billion (₱331.6 billion) in January–February 2026, up 3.1% from $5.63 billion (₱321.3 billion) in the same period last year.

Personal remittances and broader trends

Personal remittances, which include cash sent through banks, informal channels, and in-kind transfers, stood at $3.10 billion (₱177.0 billion) in February.

On a year-to-date basis, personal remittances reached $6.46 billion (₱369.0 billion), also up 3.1% from $6.27 billion (₱358.3 billion) a year earlier.

While February reflected a seasonal cooldown, early 2026 data suggests remittance inflows remain broadly stable, supported by sustained overseas employment and established remittance channels.